L3Harris Technologies, Inc. (NYSE:LHX) Expected to Post Earnings of $2.89 Per Share


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Equities analysts expect L3Harris Technologies, Inc. (NYSE:LHX) to report earnings of $2.89 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for L3Harris Technologies’ earnings, with the highest EPS estimate coming in at $3.01 and the lowest estimate coming in at $2.32. L3Harris Technologies reported earnings of $2.80 per share in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The company is expected to report its next earnings results before the market opens on Friday, April 30th.

According to Zacks, analysts expect that L3Harris Technologies will report full-year earnings of $12.90 per share for the current financial year, with EPS estimates ranging from $12.75 to $13.05. For the next year, analysts forecast that the company will report earnings of $14.51 per share, with EPS estimates ranging from $14.10 to $14.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover L3Harris Technologies.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 28th. The company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.05. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The firm had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the firm earned $2.85 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year.

LHX has been the topic of a number of analyst reports. Susquehanna Bancshares initiated coverage on L3Harris Technologies in a research note on Monday, December 14th. They set a “positive” rating and a $230.00 price objective on the stock. The Goldman Sachs Group lowered L3Harris Technologies from a “buy” rating to a “neutral” rating and set a $208.00 price objective on the stock. in a research note on Thursday. Cowen reiterated a “buy” rating and set a $210.00 price objective on shares of L3Harris Technologies in a research note on Friday, February 5th. Morgan Stanley decreased their price objective on L3Harris Technologies from $235.00 to $226.00 and set an “overweight” rating on the stock in a research note on Monday, February 8th. Finally, JPMorgan Chase & Co. lowered L3Harris Technologies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $220.00 to $215.00 in a research note on Tuesday, December 15th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. L3Harris Technologies currently has an average rating of “Buy” and an average price target of $225.80.

NYSE:LHX opened at $208.65 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.18 and a current ratio of 1.37. L3Harris Technologies has a 52-week low of $158.09 and a 52-week high of $210.14. The firm has a market cap of $42.89 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 0.96 and a beta of 0.80. The business’s fifty day moving average is $193.10 and its 200 day moving average is $185.35.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 12th were paid a $1.02 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $0.85. This represents a $4.08 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, March 11th. L3Harris Technologies’s dividend payout ratio is currently 40.48%.

A number of hedge funds and other institutional investors have recently made changes to their positions in LHX. Longview Partners Guernsey LTD bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $864,584,000. Norges Bank bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $372,443,000. Janus Henderson Group PLC increased its position in shares of L3Harris Technologies by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 8,301,442 shares of the company’s stock valued at $1,569,118,000 after purchasing an additional 1,704,250 shares during the last quarter. Truist Financial Corp increased its position in shares of L3Harris Technologies by 233.1% during the 4th quarter. Truist Financial Corp now owns 527,705 shares of the company’s stock valued at $99,747,000 after purchasing an additional 369,299 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in shares of L3Harris Technologies by 156.7% during the 4th quarter. State of Wisconsin Investment Board now owns 588,443 shares of the company’s stock valued at $111,227,000 after purchasing an additional 359,224 shares during the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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